Lawmaker Karti P Chidambaram asks ICAI to investigate Byju's finances

Says nearly 81% of Byju's operating revenue for FY2021 constitutes sale of products like tablets, SD cards and laptops, which is a blatant misrepresentation of facts to classify hardware as edutech

Karti P Chidambaram, Member of Parliament, on Friday said he has written a letter to the Institute of Chartered Accountants of India (ICAI), urging it to probe the financial statements of ⁦the edtech giant Byju’s.

In a letter addressed to ICAI President Dr Debashis Mitra, Chidambaram said Byju’s has released FY21 results after an 18-month delay, nearly missing four deadlines. The Financial Reporting Review Board (FRRB) under ICAI has the power to review general purpose financial statements of enterprises and auditor’s report thereon relating to which serious accounting irregularities have been highlighted by the media reports.

“I would like to bring to